Pozavarovalnica Sava dd : Payment of purchase price for the shares of company Moja naložba pokojninska družba, d. d.
December 30, 2015 at 07:25 am EST
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Pursuant to the Rules of the Ljubljana Stock Exchange, d. d., Ljubljana and applicable legislation, Pozavarovalnica Sava, d. d., Ljubljana (Sava Reinsurance Company) hereby announces the following:
Based on contracts for the purchase and sale of shares of the company Moja naložba pokojninska družba, d. d., entered into on 22 September 2015 z with Merkur zavarovalnica, d. d. (for a 10% holding), on 16 December 2015 with Nova KBM, d. d. (for a 45% holding), and on 29 December 2015 with Zavarovalnica Maribor, d. d. (for a 20% holding), and Zavarovalnica Tilia, d. d. (for a 5% holding), Sava Reinsurance Company acquired 100% ownership of the company Moja naložba pokojninska družba, d. d., under suspensive conditions.
All suspensive conditions of said contracts on the purchase and sale of shares of the company Moja naložba pokojninska družba, d. d., were met on 29 December 2015.
All parties met the contractual obligations on 30 December 2015. On 30 December 2015, Sava Reinsurance Company paid the purchase price for an 80% holding (i.e. 12,080 shares) in the total amount of EUR 7,078,880.00. With this, it became 100-percent owner of the company Moja naložba pokojninska družba, d. d.
This announcement will be available on the Company's website at www.sava-re.si, at least five years from the date of the announcement.
Pozavarovalnica Sava d.d. issued this content on 2015-12-30 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 2015-12-30 12:24:24 UTC
Original Document: http://www.sava-re.si/en/media-centre/news/1316/payment-of-purchase-price-for-the-shares-of-company-moja-nalozba-pokojninska-druzba-d-d/
Pozavarovalnica Sava dd (or Sava Reinsurance Plc), also known as Sava Re dd, is a Slovenia-based reinsurance undertaking. It operates as a parent company of Sava Re Group, which comprises direct insurance and pension undertakings. The Company's activities are divided into four segments: Reinsurance operations, Non-life insurance operations, Life insurance operations and Other business segment. The Reinsurance operations segment comprises treaty and facultative arrangements for intra-group clients and insurance and reinsurance partners worldwide. The Non-life insurance operations segment supports local markets with non-life insurance products and customer oriented services. The Life insurance operations segment is focused on life protection and saving products, including pension schemes. The Other business segment comprises operations of the Company's non-insurance subsidiaries. Sava Re Group operates through subsidiaries in Slovenia, Croatia, Serbia, Macedonia, Montenegro and Kosovo.